Economic future in government hands

All of us have a role to play in the economic recovery process of the country but the largest responsibility obviously lies in the hands of the government.

It is the policies, decisions, activities and conduct of the leadership in the government that holds the future of this country in as far as the economy is concerned.

Even the citizen’s ability and motivation to contribute to the economic recovery and growth process can only be influenced by the government.

For example, fiscal discipline on the part of the government is what is required if stability is to be returned in the country’s macro-economic environment.

The runaway inflation, exchange rate and lending rates can only be tamed and be put under control if Capital Hill strictly adhered to the national budget as passed in Parliament.

The same, coupled with other fiscal and monetary measures, would also ensure that the country stays on course in its agreements with the International Monetary Fund (IMF) and other development partners whose support remains crucial to our recovery process.

At the same time, good implementation of the economic recovery plan would ensure that come April, the country earns adequate foreign exchange from tobacco and other economic activities.

The private sector can only be stimulated to produce through good policies and positive actions of the country’s political leadership.

At the same time, continued financial recklessness by the leadership will not only prolong the economic problems facing the country but also send the country into an even deeper recession that will take years to correct.

If government keeps on spending public resources with reckless abandon, Malawians can as well forget about economic recovery as private sector production will be overcrowded by government borrowing on the market that will become obvious to finance the expenditure appetite of the administration.

We therefore join other Malawians and development partners in calling on the administration to restore confidence among the citizens about the government’s seriousness and commitment to the economic recovery process.

The perception among people in the country on the government’s commitment to sound economic management is currently negative because of the recent depressing actions of the leadership.

Pessimism among the people is the last thing this country wants at this time when everybody’s contribution is required to ensure that the country returns to the path of economic growth and development.

The onus is now in the hands of President Joyce Banda and her government to demonstrate their commitment to sound economic management and rally the population to support the process.

The writing is very clear on the wall about what Malawians expect from the president and her team in as far as expenditure of public resources is concerned.